Will all my customers’ invoices qualify for factoring?
Start with customers whose accounts are in good standing, but take longer than you’d like to pay. We’ll check their business credit, as well as any new customers, to be sure we can extend credit for their invoices.
How will invoice factoring affect my relationship with customers?
We confirm with a courtesy call or email that your products or services have been received to your customers’ satisfaction. That way, any issues or problems can be discovered right away, reducing the possibility of disputes and past due invoices. We pass any comments, questions or sales leads on to you immediately. Teaming with QC Capital Solutions to manage your receivables allows you to focus on your core business and better serve your customers.
Will my customers assume my business is struggling if I start to factor their invoices?
Companies of all sizes and industries use invoice factoring to meet their cash flow challenges for all kinds of reasons. Chances are excellent that your customers are already familiar with invoice factoring as an accepted and viable financial strategy, and have a number of accounts that are currently using it.
Do customers still make payments to my company?
No. Customer payments are mailed or deposited directly to the QC payment center in keeping with our notice of assignment.
What happens if the payment mistakenly comes to me?
Mistakes can occur, especially in the beginning. If you receive a payment for a factored invoice, send us the check immediately so we can mark the invoice paid and release your reserve. Please also make sure that your customer has made the proper changes in their system so the mistake doesn’t happen again.
How do you collect amounts due from the customers?
Your invoice will direct your customers to send payments to the QC Payment Center. We help you notify your customers in advance of this change to ensure that everyone is informed and comfortable with the process.
What happens if a customer doesn’t pay?
We will make every effort to work through you and with your customer to collect on the invoices we purchase. If the invoice remains unpaid after 90 days, it will be charged back to you and debited from your reserve account.